Chapter: 32 COMPANIES ORDINANCE

Section Num: 79L Version Date 30/06/1997

Distributions in kind

Where a company makes a distribution of or including a non-cash asset, and any part of the amount at which that asset is stated in the accounts relevant for the purposes of the distribution in accordance with sections 79F to 79K represents an unrealised profit, that profit is to be treated as a realised profit for the purpose of determining the lawfulness of the distribution in accordance with this Part (whether before or after the distribution takes place). <* Note - Exp. X-Ref.: Sections 79F, 79G, 79H, 79I, 79J, 79K *>

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